Kemira sells stake in Sachtleben to JV partner Rockwood

HELSINKI Thu Feb 14, 2013 7:14am EST

HELSINKI Feb 14 (Reuters) - Finnish chemicals group Kemira said it will sell its 39 percent stake in titanium dioxide joint venture Sachtleben to its partner Rockwood Holdings for 97.5 million euros ($131 million), to focus on its other businesses such as water quality management.

Both Kemira and Rockwood had been looking to dispose of Sachtleben, according to sources.

Kemira said it would book a one-time write-down of around 25 million euros for the first quarter of 2013.